SCB’s financial planning seminar

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SCB’s financial planning seminar

BANDAR SERI BEGAWAN

Saturday, July 5, 2008

FINANCIAL planning is an important tool for individuals to assess their financial position at any given time. This was emphasised at the financial planning seminar hosted by Standard Chartered Bank (SCB) for members of the BruneiLibraryAssociation yesterday.

In his talk, Irfan Hj Abd latif, head of Priority Banking at SCB elaborated on the objectives of financial planning, its benefits and how to properly structure one’s wealth.

He also touched on the methods taken by the bank in planning their clients’ future needs, building a customised solution for individuals and ensuring that their wealth are protected through proactive wealth management.

Irfan pointed out that “for individuals to have a healthy financial status, the level of debt should not be greater than 50 per cent of their earnings. It is also important to put aside some cash for emergency purposes. Emergency saving should be four to six times the amount of the expenses,” he added. He went on to say that discipline was important in managing one’s wealth. “People need to make sure whether the purchase that they are planning to make is necessary or not,” he said.

In a press statement, Eng Siok Tin, the general manager of wealth management said

that “it is never too late to start planning for the future, rather than not have any planning at all.”

The financial seminar which was organised by the association in collaboration with SCB was attended by some 20 members of the association.

SCB Corporate Affairs Manager, Marilyn Graeme, said that SCB had conducted several financial planning seminars targeted to different audiences.

Nellie Dato Paduka Hj Sunny, the president of Brunei Darussalam LibraryAssociation in her remarks said: “Money is such an important commodity. The purpose of the seminar is to talk on the culture of saving, which is an issue that should be taken seriously.” (RSH1)